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Parents Insurance (60 +) - Should we port or purchase a new one ?

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18 Dec, 2023 by  Nikhil Kumar Das

Hi All - I am planning to purchase/port (need a suggestion ?) for my parents (Aged 64 and 60).

Till last year, my father used to have a retail policy (UIIC Family Medicare) covering my mother for 5 lakhs. This policy was taken long back in Jan 2017. After that, they have been diagnosed with BP, Cholesterol, and Type 1 Diabetes (HBA1C in between 6-6.5). They have no medical history till now. But actively taking 2 medicines daily, 1 for BP and 1 for controlling diabetes. As of now, they are not taking any cholesterol medicines

Now, since my father is retired, I am planning to take the insurance. After a few sessions with Beshak - I am planning to take HDFC Ergo Optima Secure. Now, I want genuine suggestions on whether to port or take a new one.


1 Answer

13 Jan, 2024

Hello Nikhil,

Sorry for the late reply! Porting your existing HI policy is always a better option than buying a new one because when you port, you carry forward all the waiting periods that you have already served to the new policy along with other continuity benefits if any. However, in your case porting your parent's existing policy might become tricky because of their pre existing conditions. If the new insurer approves, you should absolutely port, else you can try getting a new policy.


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